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Retirement Plans (Tables)
6 Months Ended
Nov. 30, 2024
Retirement Plan Tables [Abstract]  
Schedule of Retirement Plan Costs

Our retirement plans costs for the periods ended November 30 were as follows (in millions):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Defined benefit pension plans

 

$

70

 

 

$

91

 

 

$

140

 

 

$

182

 

Defined contribution plans

 

 

288

 

 

 

242

 

 

 

575

 

 

 

482

 

Postretirement healthcare plans

 

 

21

 

 

 

21

 

 

 

43

 

 

 

44

 

 

 

$

379

 

 

$

354

 

 

$

758

 

 

$

708

 

Schedule of Net Periodic Benefit Cost

Net periodic benefit cost of the pension and postretirement healthcare plans for the periods ended November 30 included the following components (in millions):

 

 

Three Months Ended

 

 

 

U.S. Pension Plans

 

 

International Pension Plans

 

 

Postretirement Healthcare Plans

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost

 

$

124

 

 

$

136

 

 

$

11

 

 

$

10

 

 

$

6

 

 

$

7

 

Other retirement plans expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

363

 

 

 

340

 

 

 

10

 

 

 

12

 

 

 

16

 

 

 

14

 

Expected return on plan assets

 

 

(430

)

 

 

(399

)

 

 

(7

)

 

 

(7

)

 

 

 

 

 

 

Amortization of prior service credit and other

 

 

(2

)

 

 

(1

)

 

 

1

 

 

 

 

 

 

(1

)

 

 

 

 

 

 

(69

)

 

 

(60

)

 

 

4

 

 

 

5

 

 

 

15

 

 

 

14

 

Net periodic benefit cost

 

$

55

 

 

$

76

 

 

$

15

 

 

$

15

 

 

$

21

 

 

$

21

 

 

 

 

Six Months Ended

 

 

 

U.S. Pension Plans

 

 

International Pension Plans

 

 

Postretirement Healthcare Plans

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost

 

$

249

 

 

$

272

 

 

$

20

 

 

$

20

 

 

$

13

 

 

$

14

 

Other retirement plans expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

724

 

 

 

681

 

 

 

22

 

 

 

22

 

 

 

32

 

 

 

30

 

Expected return on plan assets

 

 

(860

)

 

 

(799

)

 

 

(12

)

 

 

(11

)

 

 

 

 

 

 

Amortization of prior service credit and other

 

 

(4

)

 

 

(3

)

 

 

1

 

 

 

 

 

 

(2

)

 

 

 

 

 

 

(140

)

 

 

(121

)

 

 

11

 

 

 

11

 

 

 

30

 

 

 

30

 

Net periodic benefit cost

 

$

109

 

 

$

151

 

 

$

31

 

 

$

31

 

 

$

43

 

 

$

44